RMC No. 57-2011 dated November 25, 2011 Amends RMC NO. 40-2011

RMC No. 57-2011 dated November 25, 2011
Amends RMC NO. 40-2011                                             

►   This Circular was issued to amend BIR Forms No. 1700, 1701 and 1702 The amendment consists 

1       Making the disclosure of Supplemental Information under BIR Form Nos. 1700 and 1701 optional on the part of the taxpayer for income tax filing covering and starting with calendar year 2011; and

2.      Renaming BIR Form No. 1702 as the November 2011 version.

Individual income tax filers using Form Nos. 1700 and 1701 are advised that, starting calendar year 2012, the disclosures required under the Supplemental Information portion of the forms  Thus, taxpayers are advised to demand from their payors, and properly document their BIR Form No. 2307 and other pieces of evidence for final taxes withheld. Additionally, said taxpayers should properly receipt and book their tax-exempt income.